The Federal Housing Administration announced in FHA Info #18-29 that it has published version 1.1 of the Loan Review System (LRS) User Manual on the Loan Review System … more Loan Review System User Manual Update
HUD
FHA Commissioner Touts HECM Benefits at Press Briefing
In his first press conference since being confirmed as Federal Housing Administration Commissioner on May 23, Brian Montgomery reaffirmed FHA’s commitment to the Home Equity Conversion Mortgage program, … more FHA Commissioner Touts HECM Benefits at Press Briefing
Reverse Mortgage Assistance in Puerto Rico
The non-profit HOPE Now Alliance has organized free counseling for families in Puerto Rico who were impacted by Hurricane Maria and need help with their reverse mortgages. Counselors … more Reverse Mortgage Assistance in Puerto Rico
FHA Eliminates Inspector Roster
A new final rule (Docket No. FR-5457-F-02) from the Federal Housing Administration streamlines inspection requirements for FHA single-family mortgage insurance by eliminating the FHA Inspector Roster. According to … more FHA Eliminates Inspector Roster
HUD Secretary: HECM Has Made “Excellent Progress;” Condo Rule Coming
Testifying before the Financial Services Committee this week, Secretary of Housing and Urban Development Ben Carson expressed support for the Federal Housing Administration and its new commissioner, noted … more HUD Secretary: HECM Has Made “Excellent Progress;” Condo Rule Coming
FHA FAQ Website Transitions to New Platform
The Federal Housing Administration announced in FHA Info #18-24 that it is transitioning its FHA Frequently Asked Questions website to a new platform. As a result, users may experience some … more FHA FAQ Website Transitions to New Platform
President Nominates Michael Bright to Head Ginnie Mae
President Trump this week nominated Michael Bright, the acting president and chief operating officer of Ginnie Mae, to head the agency full-time. Ginnie has been without a permanent … more President Nominates Michael Bright to Head Ginnie Mae
FHA Extends HECM Foreclosure Timelines for Hurricane-Impacted Areas of Puerto Rico and U.S. Virgin Islands
Due to extensive damage caused by Hurricane Maria in Puerto Rico and the U.S. Virgin Islands, the U.S. Department of Housing and Urban Development will extend foreclosure timelines … more FHA Extends HECM Foreclosure Timelines for Hurricane-Impacted Areas of Puerto Rico and U.S. Virgin Islands
In New Op-Ed NRMLA’s CEO Calls for Senate to Confirm FHA Commissioner Nominee
In an op-ed that appeared this week in National Mortgage News, one of the mortgage industry’s premier trade publications, NRMLA President and CEO Peter Bell urged the U.S. … more In New Op-Ed NRMLA’s CEO Calls for Senate to Confirm FHA Commissioner Nominee
Key HECM Regulations and Resource Materials
The following section lists the primary regulations pertaining to the FHA’s Home Equity Conversion Mortgage Program, used by compliance, underwriting and servicing staff.